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FOREX TECHNICAL ANALYSIS

2011-01-12 12:09:13 January 12, 2011Current level - 1.3030EUR/USD is in a downfall, after peaking at 1.4283 (November 11, 2010). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3336 and 1.3067.The intraday bias is positive for a tight test of 1.3080-90 resistance area and a reversal is to be expected for the next leg downwards, to 1.2730, en...

USD/CAD Buy Recommendation Issued @0.9835; Plethora of Upside Ahead

USD/CAD Buy Recommendation Issued @0.9835; Plethora of Upside Ahead 2011-01-12 11:48:16     There have not been a whole lot of developments on the fundamental front in recent trade and we will take the opportunity to go over broader price action which should hopefully do a good job of bringing you all up to speed. The Euro is now attempting to mount its first recovery rally in the year of 2011, with the market basing out this week and jumping...

Daily Forex and Dow Jones Recommended levels

Daily Forex and Dow Jones Recommended levels 2011-01-12 10:34:47     EUR/USDToday’s support: - 1.2904, 1.2873 and 1.2846(main), where correction is possible. Break would give 1.2825, where correction also may be then follows 1.2814. Break of the latter would result in 1.2801. If a strong impulse, we would see 1.2783. Continuation will give 1.2765. Today’s resistance: - 1.3028 and 1.3061(main). Break would give 1.3080, where a correction is possible then goes 1.3098. Break of the latter would...

Canadian Dollar Continues to Diverge from Commodity Bloc Cousins

Canadian Dollar Continues to Diverge from Commodity Bloc Cousins 2011-01-12 07:59:24     There have not been a whole lot of developments on the fundamental front in recent trade and we will take the opportunity to go over broader price action which should hopefully do a good job of bringing you all up to speed. The Euro is now attempting to mount its first recovery rally in the year of 2011, with the market basing out this week and jumping...

AUD/USD continues its descending movement

AUD/USD continues its descending movement 2011-01-12 05:41:59     AUD/USD continues its downward movement from 1.0255 and the fall extended to as low as 0.9803 level. Deeper decline is still possible in a couple of days and next target would be at 0.9700-0.9750 area. Initial resistance is at 0.9890 and key resistance is at 0.9991, only break above these levels could indicate that the downtrend from 1.0255 is complete. ...

FOREX TECHNICAL ANALYSIS

FOREX TECHNICAL ANALYSIS 2011-01-11 12:15:29     Major Currency Pairs

EUR Manages Gains despite Debt Concerns

EUR Manages Gains despite Debt Concerns 2011-01-11 11:12:34       The euro recovered from a four-month low against the U.S. dollar on Monday, though gains are not expected to hold given resurgent concerns about indebted euro zone countries and talk that Portugal will need a bailout. By yesterday’s close, the EUR traded up 0.4%; it remained down about 3.2% for the first six trading sessions this year.Against the soaring Swiss franc (CHF), the euro rose 0.3% to 1.2525...

Double Top in AUD-USD is not Confirmed Yet

Double Top in AUD-USD is not Confirmed Yet 2011-01-11 10:48:07     The Australian Dollar had a strong run in the last days of the year 2010. For a good reason – this pair made another all time high, reaching 1.0255. During last week, the price pulled back, falling to just under 1.0000. For all practical purposes, the parity became a new support level. This correction made the high of 1.0255 stands out, especially...

Euro Declines Stall Out for Now after Market Posts First Positive Close in the year 2011

Euro Declines Stall Out for Now after Market Posts First Positive Close in the year 2011 2011-01-11 07:33:39     Despite some early downside pressure in Asian trade on Monday, the Euro managed to quickly shrug off the multi-month low by 1.2875 before bouncing impressively back above 1.2900. The bounce was impressive because late Sunday headlines in which France and Germany were seen putting pressure on Portugal to apply for EU/IMF aid, could have weighed much more substantially on...

USD-CAD under Parity Again

USD-CAD under Parity Again 2011-01-10 13:14:37     The Canadian Dollar was getting stronger for the better part of 2010. In the later part of the year, the USD-CAD found a firm support at the parity level. This level held for a few months, but was eventually broken on 12.31 and the price fell to 0.9887. During the last few days, this pair rebounded to some degree. On the other hand, it failed move above...
 
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